So I just did something very similar except I went to a 46t rear sprocket and simply replaced the 17t with a rubber damped version. My motive was simple experimentation. Something to consider about dropping to a 16t front is that you 'may' see some odd wear related to that choice, the teeth of the 16t will see the same tooth/chain link contact point every 8 chain rotations vs 17 for stock or the combo I chose. Additionally both front and rear will see the same spot of the chain every 88 rotations vs 374 (stock) or 391 (17/46). Play with www.gearingcommander.com
a little bit, it's a cool site that lets you play with all those numbers. There's no guarantee that it'll play out as accelerated wear, but the potential is there.
The other thing I didn't like about the 16t was how much more room it gave the chain to jump if it went slack enough, the 17t keeps it tight to the guard. Again, this is only a worst case scenario but still worth considering since jumping a chain up front can do some serious damage.
I need to count the links on the chain to see what I ended up with, sprocket center sends what they think you need if you change ratios when ordering a kit. I had to pull a link out of what they sent, but the wheel is still further back in the swing arm that it was with the smaller gear, so one link longer than stock maybe??
My first impressions is that the rubber damped front cog pulled eliminated the power pulses you get at lower rpms when rolling on, i.e. 2500-3500 rpms, so the bike feels smoother when cruising along at lower speeds on surface streets. 80mph is just barely over 5k which is just about perfect for my freeway commute.